Charitable Remainder Trusts
Looked into these once last summer when I had some property to sell that cost me $1.98 and was going to sell for over half a million.
Went with a 1031 tax free exchange instead and am very happy with that however....
I am still interested in this with some other property that I have the same tax problem with.
Anybody have any knowledge in this area? For instance, you own outright a piece of real estate that you have a 10 cent basis in that is now worth $750,000 or so.
Can I do a donation to get a stream of income for as long as I and the wife live? No heirs to worry about here.